The thing is, Obama is right that it would be a calamity for the government to default on its debt by not meeting its obligations. Such a thing has never happened and cant be allowed to happen. – John Podhoretz
The United States established itself as a trustworthy new nation in its first two decades after the Revolutionary War by paying its debts, even when many in the country believed it had no obligation to do so. Alexander Hamilton, the founder of this newspaper, insisted on it. – John Podhoretz

